Case Study: Eklind Tool Company achieves 50% faster invoice processing and paperless accounts payable with Upland Software’s FileBound

Business Harnesses Automation to Increase Accounts Payable Productivity, Improve Processes, and Reduce Costs

Eklind Tool, a U.S. manufacturer of professional hex keys, was struggling as growing sales in 2015 overwhelmed its accounts payable team. Manual data entry, outdated processes and a heavy paper trail created bottlenecks, errors, lost invoices and rising storage costs, prompting the company to seek a way to streamline AP and eliminate paper.

Working with Genesis Technologies, Eklind integrated Upland FileBound into its homegrown AP system and went live in six weeks, standardizing and automating workflows and enabling searchable electronic invoices. The change saved about 12 hours per employee per week, cut invoice processing time by 50%, templated nearly 90% of invoices, made POs/invoices/checks instantly retrievable, and all but eliminated printing and storage costs while improving compliance and productivity.

Eklind Tool Company

Doug Cunningham

Vice President of Finance